Redwire (NYSE:RDW) Hits New 1-Year High – Here’s What Happened

Redwire Co. (NYSE:RDW)’s share price reached a new 52-week high on Saturday . The stock traded as high as $18.49 and last traded at $18.09, with a volume of 1215083 shares trading hands. The stock had previously closed at $17.04.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RDW shares. Roth Mkm lifted their target price on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. B. Riley downgraded shares of Redwire from a “buy” rating to a “neutral” rating and increased their target price for the stock from $8.00 to $9.50 in a research report on Tuesday, October 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Redwire in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.13.

Redwire Trading Up 6.2 %

The stock has a fifty day simple moving average of $12.35 and a 200-day simple moving average of $8.76. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -14.95 and a beta of 2.25.

Insider Transactions at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 5,371 shares of Redwire stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.01, for a total transaction of $96,731.71. Following the sale, the insider now owns 4,598,056 shares in the company, valued at $82,810,988.56. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Vontobel Holding Ltd. acquired a new stake in Redwire in the 3rd quarter valued at $74,000. The Manufacturers Life Insurance Company bought a new stake in shares of Redwire in the 2nd quarter worth about $74,000. AQR Capital Management LLC acquired a new stake in shares of Redwire during the 2nd quarter worth about $89,000. MetLife Investment Management LLC boosted its position in Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after buying an additional 7,921 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in Redwire during the third quarter worth about $139,000. Institutional investors own 8.10% of the company’s stock.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.